FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of fair value on a recurring basis

The following table presents the Company’s asset and liabilities that are measured and recognized at fair value on a recurring basis, classified under the appropriate level of the fair value hierarchy as of December 31, 2017 (in thousands):



	As of December, 2017		Fair Value Hierarchy at December 31, 2017
	Total carrying and estimated fair value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Asset:
Cash and Cash Equivalents	$	99,394	$	92,726	$	6,668	$	—
Marketable securities, available-for-sale	201,236		—		201,236		—
Total	$	300,630	$	92,726	$	207,904	$	—
Liabilities:
Derivative liability related to warrants	$	15,710	$	—	$	—	$	15,710
Business combination-related contingent consideration	90,000		—		—		90,000
Total	$	105,710	$	—	$	—	$	105,710

The following table presents the Company’s assets and liabilities that are measured and recognized at fair value on a recurring basis, classified under the appropriate level of the fair value hierarchy as of December 31, 2016 (in thousands):



	As of December, 2016		Fair Value Hierarchy at December 31, 2016
	Total carrying and estimated fair value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Asset:
Cash and Cash Equivalents	$	41,002	$	39,929	$	1,073	$	—
Marketable securities, available-for-sale	214,871		—		214,871		—
Total	$	255,873	$	39,929	$	215,944	$	—
Liabilities:
Derivative liability related to warrants	$	22,440	$	—	$	—	$	22,440
Business combination-related contingent consideration	87,478		—		—		87,478
Total	$	109,918	$	—	$	—	$	109,918

Schedule of fair value measurements of common stock warrants using significant unobservable inputs (Level 3)

The following table sets forth a summary of changes in the estimated fair value of the Company’s Level 3 derivative liability for years ended December 31, 2017 and 2016 (in thousands):



	Fair Value Measurements of Common Stock Warrants Using Significant Unobservable Inputs (Level 3)
	2017			2016
Balance at January 1,	$	22,440		$	38,810
Reclassification of derivative liability to equity upon exercise of warrants	(11,221		)	(14,715		)
Change in estimated fair value of liability classified warrants	4,491			(1,655		)
Balance at December 31,	$	15,710		$	22,440

Schedule of fair value measurements of acquisition-related contingent consideration

The following table sets forth a summary of changes in the estimated fair value of the Company's Level 3 business combination-related contingent consideration for the years ended December 31, 2017 and 2016 (in thousands):



	Fair Value Measurements of Acquisition-Related Contingent Consideration (Level 3)
	2017			2016
Balance at January 1,	$	87,478		$	59,021
Present value of contingent consideration upon acquisition related to a business combination	—			25,000
Increase from revaluation of contingent consideration	19,389			18,383
Contractual Payments	(6,006		)	(12,826		)
Contractual Payments accrued at December 31	(11,012		)	(1,988		)
Foreign currency impact	151			(112		)
Balance at December 31,	$	90,000		$	87,478